We are not yet in a recession. All of the layoffs that are occurring are mostly companies right sizing from the tremendous employee growth spurt driven mostly by the pandemic. The sheer numbers of employees added during the pandemic by some tech companies is almost staggering. As a percentage change in the total number of employees from 2019 to 2022, Amazon doubled its workforce at 106%, Meta also doubled at 103%, Google at 64% and Microsoft at 53%. Apple was somehow very controlled and efficient with only a 20% increase, therefore no major right sizing or layoffs from Apple. So, tens of thousands of people have been let go
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